U.S. stocks opened higher Friday as investors were buoyed by Federal Reserve Chairman Jerome Powell's earlier comments on inflation.

In early trading, the Dow Jones Industrial Average rose 301.56 points, or .95%, to 32,076.08. The S&P 500 rose 46.41 points, or 1.16%, to 4,052.59, and the Nasdaq Composite was up 169.92 points, or 1.43%, to 12,032.05.

The surge added to gains made over the last two days after three consecutive weeks of losses.

On Thursday, the Fed chairman reiterated that the central bank would do everything in its power to stifle inflation.

Some of the tech stocks that rose earlier included Cloudflare (NET), which rose to $65.90, up $3.32, or 5.31%. WeWork Inc. (WE) shares rose $.20, or 5.01%, to $4.29.

Next week's inflation report is likely to "give a mixed picture with some good news and some bad news," wrote economists at UniCredit Bank.